8 tips to help you save money when you’re already on a budget

The continued rising cost of living means expenses are piling up, which makes sticking to a budget and finding the small wins all the more important. You may feel personally victimised by your skyrocketing supermarket bill, but there are some things you can do to help reduce your spending and build up those savings even if you are already on a tight budget. 

If you’re already making your coffee at home and want to trim your expenses - here are 8 tips to help you save money when you’re already on a budget. 

Tracking expenses is rule number one in a successful budget, you need to know where your money is going. However, honesty is key - if you are confronted by your transactions and don’t remember your impulse buys it’s time to sit down and work out how you want to be spending your money.

Getting in tune with the seasons could help shave some dollars off your weekly grocery bill. Looking for produce that is in season is generally cheaper than buying fruit and veggies that have to be shipped in due to transport costs.

It might be hard to let go of your favourite brand of snacks because they just don’t fit the budget, but always keep an eye out for special deals. Swapping to cheaper alternatives saves money in the long term, however if you are in the mood for a little treat - think about the reduced sales items.

Whether it’s the gym or a streaming service, it might be time to think about how much benefit you are getting from these recurring payments. If these subscriptions aren't adding joy to your life and the cost per use is low, cut them loose.

The energy bill is an expense you can be sure to expect, but there are ways you can soften the blow. Reducing your heater and cooling use, as well as turning off your lights are some of the simple things you can do. Check out our guide for more tips on lowering your energy bill.

You aren’t married to your phone, energy or internet plans, so shop around for better deals. Based on your usage, downgrading or switching plans might suit your lifestyle better and save you some coin. In some cases, calling up your provider can result in a lower plan price - it’s free and the worst thing they can do is say no.

Start utilising those banking app features and step into the future with automated bank savings. Automation removes the mental barrier of saving and takes the responsibility off you to make the transfer. You’ve already done the hard part of budgeting, let the app do some work.

A good savings account that suits your habits can help you on your financial journey. A high interest savings account with terms that fit your needs may be an option that does most of the work for you. If you are interested in checking out a new savings account, compare some of our picks below.